MEETING OF COUNCIL - Town of Cambridge

COUNCIL MINUTESTUESDAY 26 FEBRUARY 2013POLICY/STATUTORY IMPLICATIONS:The general, reserves and Endowment Lands funds are invested in accordance with theguidelines set down in the Town’s Policy No. 3.2.5 – Investment.FINANCIAL IMPLICATIONS:Interest from investments represents a significant revenue item in the Council’s Budget and it istherefore important that the Council’s investment performance is monitored closely. Detailedmonthly reports together with detailed policy investment guidelines support this.The Investment Schedule, as circulated, provides details of the performance of each individualinvestment to date. A summary of the investment performance to budget is provided below:Actual as atJanuary2012 %Actual as atJanuary2013 %Budget2011/2012Budget2012/2013General * $677,000 $464,790 68.7% $637,400 $444,607 69.8%Reserves $100,000 $69,240 69.2% $165,000 $60,671 36.8%Endowment Lands $659,900 $382,876 58.0% $550,000 $329,294 59.9%Total Investments $1,436,900 $916,906 63.8% $1,352,400 $834,572 61.7%* Includes Bank Account Interest of $35,297.STRATEGIC DIRECTION:The investment of Council funds is consistent with the Strategic Plan's key area of Capacity toDelivery and its goal of financial sustainability by ensuring strategies are in place formaintaining the Town's wealth and revenue capacity.COMMUNITY CONSULTATION:The investment of Council funds is consistent with the Strategic Plan's key area of Capacity toDelivery and its goal of financial sustainability by ensuring strategies are in place formaintaining the Town's wealth and revenue capacity.ATTACHMENTS:1. Oakvale Consolidated Investment Report - January 2013COUNCIL DECISION:(COMMITTEE AND ADMINISTRATION RECOMMENDATION)Moved by Cr Langer, seconded by Cr BradleyThat the Investment Schedule as at 31 January 2013 forming part of the Notice Paper bereceived.Carried 9/0H:\CEO\GOV\COUNCIL MINUTES\13 MINUTES\FEBRUARY 2013\C CR.DOCX 171